USDX testing support, potential bounce!
USDX is testing our first support at 89.57 (horizontal overlap support, 61.8%, 76.4% Fibonacci retracement). A strong bounce might occur at this level, pushing price up to our major resistance at 90.32 (horizontal overlap resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement). A breakout of our intermediate resistance at 90.06 (horizontal pullback resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement) might provide the bullish acceleration to our major resistance level.
Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our major support, where we might see a corresponding rise in price should it bounce off this level.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our major support, where we might see a corresponding rise in price should it bounce off this level.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
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